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Tag: Japans

  • Japan’s Metaplanet buys $7M Bitcoin, now holds to $40.5M BTC

    Japan’s Metaplanet buys $7M Bitcoin, now holds to $40.5M BTC

    Japan’s Metaplanet buys $7M Bitcoin
    • Metaplanet boosts Bitcoin holdings to 639.5 BTC as of Oct. 7.
    • The company’s stock price has surged 11%, with a 544% year-to-date gain since May 2024.
    • It has so far acquired an additional $1.4M in BTC via options trading, recognizing 23.97 BTC as revenue.

    Japan-based investment firm Metaplanet on October 7 announced that it has made yet another significant acquisition of Bitcoin, boosting its holdings to a total of 639.5 BTC, valued at approximately $40.5 million.

    The company, which has garnered the nickname “Asia’s MicroStrategy” for its aggressive Bitcoin purchasing strategy, acquisition of an additional 108.78 BTC, worth roughly $7 million at the current Bitcoin price of $63,600.

    Metaplanet’s Bitcoin strategy has been nothing short of bold. Since May 2024, when it first adopted Bitcoin as its strategic treasury reserve asset, the firm has made regular purchases to strengthen its cryptocurrency portfolio.

    In total, Metaplanet has invested 6 billion Japanese yen into Bitcoin over the past few months. Its consistent buying behaviour has drawn comparisons to MicroStrategy, the American company known for its own large-scale Bitcoin acquisitions.

    This most recent purchase has led to a surge in Metaplanet’s stock price, which climbed more than 11% on October 7, reaching an intraday high of 1,047 Japanese yen (approximately $7). The company’s stock has more than tripled in value since the start of the year, with a 544% year-to-date gain, although it is still trading at a 66% discount from its all-time high in May 2024.

    In addition to direct Bitcoin purchases, Metaplanet has employed options strategies to increase its reserves. Last week, the company acquired Bitcoin worth $1.4 million through options trading, selling put options with a strike price of $62,000. These options, set to expire on December 27, 2024, generated a premium of 23.97 BTC, which the company recognized as revenue.

    Market analysts remain optimistic about Bitcoin’s trajectory, with predictions suggesting it could rise to $77,700 by the end of October. As Bitcoin continues its upward momentum, Metaplanet’s ongoing acquisition strategy could further solidify its position as a leading player in the cryptocurrency space.

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  • Japan’s banking giant Nomura launches Bitcoin adoption fund

    Japan’s banking giant Nomura launches Bitcoin adoption fund

    • Japan’s financial giant Nomura launches Bitcoin adoption fund
    • The Bitcoin Adoption Fund is offered by Laser Digital Asset Management, a subsidiary of $500 billion Nomura.
    • Laser Digital’s new fund offers long-only exposure to Bitcoin (BTC).

    Nomura, a $500 billion Japanese investment banking giant, has launched a new Bitcoin fund for institutional investors.

    The new fund is an offering from Laser Digital Asset Management, a subsidiary of the Japanese financial behemoth and will offer institutions access to investment opportunities across the digital assets space.

    Fund offers long-term exposure to BTC

    Per details in a report by Bitcoin Magazine, the new fund is Laser Digital’s first product in a series of crypto investment solutions lined up for the growing market. Institutional investors will have access to long-only exposure to BTC.

    Sebastian Guglietta, the head of Laser Digital, noted that with technology key to the world’s economic growth, the Bitcoin adoption fund will be a crucial transformational agent for investors. According to him, providing investors with a means to gain long-term exposure to the benchmark cryptocurrency ensures they are able to capture the current macro trend.

    Laser Digital is headquartered in Switzerland and made one of its big forays into crypto via a strategic investment in Ethereum-based DeFi protocol Infinity. As CoinJournal reported, the investment happened in February this year. The company has also acquired regulatory approval as a virtual asset provider from Dubai’s regulatory agency.

    As part of the Bitcoin offering, Laser Digital is collaborating with institutional-focused digital asset custody provider Komainu. The regulated company launched in 2018, founded by Nomura, crypto hardware wallet maker Ledger, and digital assets manager Coinshares.

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  • Jasmy price prediction as Japan’s Bitcoin surges

    Jasmy price prediction as Japan’s Bitcoin surges

    Jasmy price has had one of the best performances in 2022 as investors bought the dip in Japan’s Bitcoin. It has risen in the past five straight days and moved to the highest level since December 11. These gains represent about a 40% increase from the lowest level in 2022, giving it a market cap of over $100 million. 

    Why is Jasmy soaring?

    Jasmy is a relatively small blockchain project that has become popular in Japan. The platform was started by a team of former executives at Sony, one of the leading entertainment companies in the world. The platform was created to provide decentralized data storage solutions to companies and individuals. 

    The creators recognized the importance that data plays in the world today. Indeed, we have seen multi-billion dollar companies like Google and Meta Platforms that make money from selling data to advertisers. Data privacy has also become an important part of the word debate today. 

    Jasmy plays an important part in the democratization of data by combining blockchain and Internet of Things to provide an infrastructure that allows anyone to use data safely and securely. Users can store and control their data, manage and control devices, and provide a safe place to use data in a secure manner. 

    Jasmy’s platform is made possible by a number of popular technologies. Some of the top components of its technology are the Personal Data Locker, which enables data storage within a peer-to-peer network. It also has a secure knowledge communicator which allows data democratization and smart guardian that allows the registration of devices. 

    It is unclear why Jasmy coin price has done well in the past few days. A likely reason is that the developers are about to make a major announcement such as a partnership with a major company. There is speculation that the network will soon partner with Sony. 

    Jasmy price prediction 

    JASMY chart by TradingView

    The daily chart shows that Jasmy price has been in a strong bullish trend in the past few days. It has risen in the past fou straight days and managed to move above the 25-day and 50-day moving averages. The Relative Strength Index (RSI) has moved slightly below the overbought level. 

    Therefore, as I wrote elsewhere, I suspect that Jasmy will retreat in the coming days as the short squeeze fades. Also, it will decline as some of the current buyers move into a distribution phase. If this happens, the next key level to watch will be at $0.0032.

    How to buy Jasmy

    KuCoin

    Kucoin is a cryptocurrency exchange which offers over 200 cryptocurrencies.

    Kucoin has a wide range of services, such as; a built-in peer-to-peer exchange, spot and margin trading, bank level security and a wide range of accepted payment methods.

    Users can benefit from a beginner-friendly interface and relatively low fees.


    Buy JASMY with KuCoin today

    Swapzone

    Swapzone is a crypto exchange aggregator that operates as a gateway between the cryptocurrency community and exchange services. Swapzone aims to provide a convenient interface, safe user flow, and crystal-clear data for users to find the best exchange rates among the whole cryptocurrency market.


    Buy JASMY with Swapzone today

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